Distributed ledger system for providing aggregate tracking and threshold triggering

Abstract

Embodiments provide a system operatively connected with a block chain distributed network and for using the network for providing aggregate tracking and threshold triggering. Embodiments receive, at a node of a blockchain distributed network, an interaction record associated with an interaction between a payor entity and a payee entity. The system accesses and updates a distributed ledger based on communications from the block chain and determines, from the distributed ledger, a net position between the entity and a third party. If the entity is the payor entity and the third party is the payee entity, the system debits the net position in the amount of the interaction; however, if the entity is the payee entity and the third party is the payor entity, the system credits the net position in the amount of the interaction. The system then updates and records an updated net position on the distributed ledger.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application claims the benefit of U.S. Provisional Application Ser. No. 62 / 411,236, entitled “DISTRIBUTED LEDGER SYSTEM FOR PROVIDING AGGREGATE TRACKING AND THRESHOLD TRIGGERING”, filed Oct. 21, 2016, which is incorporated herein by reference in its entirety.BACKGROUND[0002]Most settlement networks (EWS, TCH, debit networks) rely on a proprietary central clearing capability and counterparties can use to drive gross or net settlement. However, current systems do not provide for ongoing calculation of net positions in order to reduce the number of necessary settlements.BRIEF SUMMARY[0003]Embodiments of the present invention address these and / or other needs by providing an innovative system operatively connected with a block chain distributed network and for using the block chain distributed network for providing aggregate tracking and threshold triggering.[0004]In some embodiments, the invention is directed to a system for calculating ...

AI Technical Summary

Benefits of technology

[0005]Embodiments of the invention relate to a system operatively connected with a block chain distributed network for facilitating real-time clearance aggregate tracking and threshold triggering, the system maintained by an entity, the system comprising: a memory device; a network communication interface; and a processing device operatively coupled to the memory device and the network communication interface, wherein the processing device is configured to execute computer-readable program code to: receive, over a network via the network communication interface, an interaction record associated with a first entity and a second entity, wherein the interaction record comprises a previous interaction and a previous net position; extract, from a node of the block chain distributed network, the previous net position associated with the first entity and the second entity recorded on a block of the block chain distributed network; calculate an updated net position based on the interaction record associated wit...

Problems solved by technology

However, current systems do not provide for ongoing calculation o...

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